Reviva Pharmaceuticals Holdings, Inc. Holds Annual Meeting and Approves Increase in Authorized Shares

Reviva Pharmaceuticals Holdings, Inc. recently held its 2024 Annual Meeting of Stockholders on December 10, 2024, during which shareholders discussed and voted on several key matters. Among the significant outcomes, shareholders approved an amendment to the company’s Amended and Restated Certificate of Incorporation. The amendment specifically focused on increasing the company’s authorized shares of common stock, par value $0.0001 per share, from 115,000,000 to 315,000,000.

Following the meeting, Reviva Pharmaceuticals promptly filed the Certificate of Amendment with the Secretary of State of the State of Delaware on the same day, and the amendment came into effect immediately. This adjustment aligns with the company’s strategic positioning and future growth plans.

Additionally, at the Annual Meeting, shareholders participated in voting on various proposals. These included the election of new directors, the ratification of Moss Adams LLP as the independent registered public accounting firm, and the approval of executive compensation for named officers. Notably, Proposal 5, which sought approval for the increase in authorized shares of common stock, passed successfully.

The voting results for Proposal 5 were in favor of the certificate amendment to raise the authorized shares from 115,000,000 to 315,000,000. The tally showed 15,559,792 votes for, 6,654,265 votes against, and 321,684 abstentions. The Company also sought votes on how often future advisory votes on executive compensation should be conducted, with the decision set for annually until the 2030 Annual Meeting of Stockholders.

Moreover, the Board of Directors considered and confirmed the outcome of the advisory vote on the frequency of executive compensation advisory votes, as recommended in the Proxy Statement. They determined that these votes would be conducted yearly until the next vote in 2030.

Following the successful voting outcomes, there was no need to proceed with Proposal 6 aimed at an adjournment of the meeting, as the votes cast were adequate to approve Proposal 5. The Company will continue to focus on its operational objectives and adhere to the strategies discussed and approved at the Annual Meeting.

The formal details of the Certificate of Amendment and other necessary filings have been duly made in compliance with regulatory requirements. Investors and stakeholders can refer to the full text of the Certificate of Amendment as filed with the Securities and Exchange Commission for more comprehensive details.

The Annual Meeting signifies a pivotal moment for Reviva Pharmaceuticals Holdings, Inc., as it solidifies its shareholder-approved plans for growth and adaptation to market dynamics.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Reviva Pharmaceuticals’s 8K filing here.

Reviva Pharmaceuticals Company Profile

Reviva Pharmaceuticals Holdings, Inc, a biopharmaceutical company, discovers, develops, and commercializes next-generation therapeutics for diseases targeting unmet medical needs in the areas of central nervous system, respiratory, inflammatory, and cardiometabolic diseases. The company's lead product candidate comprises brilaroxazine (RP5063) for the treatment of various neuropsychiatric indications, including schizophrenia, bipolar disorder, major depressive disorder, attentiondeficit/hyperactivity disorder, behavioral and psychotic symptoms of dementia and Alzheimer's disease, and Parkinson's disease psychosis; in clinical development respiratory indications, such as pulmonary arterial hypertension and idiopathic pulmonary fibrosis; and in preclinical development for the treatment of psoriasis.